Charlotte's Web Reveals Premium Sports Product Line Undergoing NSF's Certification Process

Natural Wellness Options for Support of Recovery, Focus, and Sleep

DENVER, Aug. 11, 2022 /PRNewswire/ - (TSX: CWEB) (OTC: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web," "CW" or the "Company"), the market leader in full-spectrum hemp extract CBD products, today announced plans to unveil a product line catering to the sports vertical. The products are currently undergoing the NSF for Sport^® certification process with NSF, a third-party organization that manufacturers, regulators, and consumers look to for the development of public health standards and certification marks that help protect the world's food, water, consumer products, and environment.

Charlotte's Web has been used by elite and everyday athletes alike since its founding, given the support many athletes experience with Charlotte's Web CBD tinctures and gummies. Recently, the Company was named the official CBD partner of Angel City Football Club (ACFC) marking the Company's first partnership with a sports team. Charlotte's Web-owned CBDMEDIC™ has an established partnership with retired professional soccer player, Carli Lloyd.

"Focus, recovery, and sleep are critical areas of optimization for athletes that our sports products can support," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web. "An NSF Certified for Sport^® line can assure sports leagues and their players that ingredients are safe and certifies that there are no banned substances. We believe our products, upon meeting NSF certification, will make a positive impact on the lives of professional, amateur athletes and fans alike."

The initial product from the new Charlotte's Web sports line is planned for launch later this year pending NSF Certified for Sport^® with non-detectable amounts of THC. Charlotte's Web already provides THC-Free options and uses an NSF-certified manufacturing facility. The final NSF Certified for Sport^® product certification process is underway.

Each product in the Charlotte's Web Sports portfolio pipeline will undergo NSF's certification for sport to meet the content quality, transparency and safety requirements of many leagues, teams, and players. NSF Certified for Sport^® products must have less than 9mcg of THC per serving. With the majority of Charlotte's Web's current product portfolio containing full-spectrum products, the broad-spectrum sports portfolio will target a different consumer segment than most of its current product lines.

Charlotte's Web NSF Certified for Sport^® THC-Free products will include tinctures, topicals, gummies, and more. The first product planned for launch is an NSF certified tincture and gummy followed by a robust sport portfolio planned for release in the front half of 2023.

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NSF is an independent, global organization that facilitates standards development, and tests and certifies products for the food, water, health sciences and consumer goods industries to minimize adverse health effects and protect the environment. Founded in 1944, NSF is committed to protecting human health and safety worldwide. With operations in 180 countries, NSF is a Pan American Health Organization/World Health Organization Collaborating Center on Food Safety, Water Quality and Indoor Environment.

NSF's health sciences services include training and education, consulting, clinical research, regulatory guidance, corporate compliance and, separately, auditing, GMP and GLP analytical testing, DNA testing, certification and R&D for the pharma, biotech, medical device, and dietary supplement industries throughout the product lifecycle.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp™. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are American farm -grown using organic and regenerative cultivation practices. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial compounds. The Company's CW Labs R&D division advances hemp science at a center of excellence in Louisville, Colorado. Web product categories include full-spectrum hemp CBD oil tinctures (liquid products), CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs.  Through its vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with 20+ product lot testing for quality assurance. Charlotte's Web products are distributed to more than 15,000 retail, over 8,000 health care practitioners, and online through the Company's website at https://www.charlottesweb.com/. Charlotte's Web's mission is "To unleash the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it."

Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ‎‎"forward-looking information"). In some cases, but not necessarily in all cases, forward-looking information can be identified by the ‎use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", ‎‎"is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and ‎phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be ‎achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. ‎

Statements containing forward-looking information are not historical facts but instead represent management's current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, ‎assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to ‎known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the "Risk Factors" section of the Company's most recently filed annual information form available on www.SEDAR.com and in the Company's most recently filed Form 10, as amended, and other filings with the Securities and Exchange Commission available on www.SEC.com. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Charlotte's Web Holdings, Inc.